The real estate businessman who was detained on Monday for questioning on suspicion of creditors’ fraud offenses is Boaz Yonah, a former CEO of Heftziba. Yona is suspected of offenses related to bankruptcy and insolvency, as well as offenses under the Prohibition of Capital Offenses Law. He has previously served a prison sentence for various fraudulent offenses.
As stated, at the end of an undercover investigation by the National Investigation Unit of the Bankruptcy Commissioner in the Ministry of Justice, in cooperation with the National Fraud Investigation Unit (LIAH) at Lahav 433, the Israel Police, Boaz Yonah, who is in bankruptcy proceedings, was detained last Monday on suspicion of creditors’ fraud. Bankruptcy and insolvency offenses and money laundering offenses.
The investigation is being conducted against the suspect and other people involved, family members and relatives. According to the suspicion, Yona worked for a long time, with the help of his associates, to hide his income and assets from the creditors during the bankruptcy, among other things, by registering bank accounts and companies under his control in the name of others.
Upon moving to the overt investigation phase, investigators from the National Investigation Unit of the Bankruptcy Commissioner and investigators from the National Fraud Investigation Unit in Blade 433 conducted searches of the home and homes of other involved as well as the offices of a corporation related to the suspect. Many documents and computer materials were seized during the searches.
In August 2007, the Heftziba companies were in a financial crisis, and Boaz Yonah fled Israel. On August 30, after a two-week chase, Yona was arrested in Italy. He was extradited to Israel on June 16, 2008 and signed a plea agreement, according to which he will be sent to 7 years in prison. On October 6, Yona was convicted, according to his confession, of receiving anything fraudulently under aggravated circumstances, non-compliance with the provisions of the Securities Law, false registration in corporation documents and theft by an authorized person. On March 1, 2012, Yona was released from prison after his sentence was reduced by a third due to good behavior, and he was given another acronym as an administrative release.
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